The broader crypto market is staging a rebound, with Ethereum climbing 15% from its March 11 low to reclaim the $2,000 mark. This shift in sentiment has sparked renewed interest in altcoins and memecoins, including Pepe (PEPE), which has gained more than 13% over the past week after a prolonged downtrend. A recent breakout and large-scale accumulation suggest PEPE could be setting the stage for a stronger recovery.

Whale Activity Signals Confidence

On-chain data from SpotOnChain shows that a newly activated wallet recently withdrew 500 billion PEPE—worth approximately $4,3 million—from Binance. This significant move indicates growing interest from whales or institutional players, suggesting that large investors may be positioning for an extended upward move.

Technical Breakout Could Fuel Rally

PEPE recently broke out from a falling wedge pattern, historically known as a bullish reversal structure. The token moved above the $0,0000079 level, surpassing both its descending trendline and the 50-day moving average. This breakout pushed PEPE to $0,00000856, with strong momentum continuing to build.

Looking ahead, the next resistance level lies near $0,000010. It could open the path to the 200-day MA and a possible rally toward $0,00001475—representing a potential 72% upside from current prices. A retest of the breakout zone may occur in the short term, acting as a healthy confirmation of support before the next leg higher.

With improving market conditions, bullish technical signals, and notable whale accumulation, PEPE is showing early signs of recovery. While the outlook is increasingly optimistic, traders should monitor support levels closely in case of a retest before the next significant move.

More about PEPE: PEPE Signals a Bottom: Is a Massive Rally on the Horizon?